The role of financial planning has become more important for Hungarians, with more than half of them regularly keeping track of household income and expenditure, according to a representative survey conducted in May by Provident Pénzügyi Zrt.'s parent company International Personal Finance.
As the summary sent to MTI on Monday points out, the survey measured the subjective financial situation of the population. According to the responses, one in four Hungarians will have zeroed out their bank accounts by the end of the month.
23.6% of the respondents plan every single expenditure, 36.4% of the respondents calculate whether they can fit it into the family budget before making a major expenditure. 28.9% of Hungarians plan only some expenses in advance, while only 8.7% say they do not plan at all.
According to the survey, women are more inclined to financial planning by only half a percent. While men are better at tracking everyday expenses, women are better at thinking about major expenses. Men are more inclined to let go of the financial reins, with one in ten men not planning at all, while the proportion is noticeably lower for women at 7.5%.
Broken down by age group, 18–34-year-olds are less likely to think ahead when it comes to financial planning, with only 12.2% keeping track of all spending and 38.6% thinking ahead of major expenses. Financial awareness increases with age, with around 20% of 35–54-year-olds keeping a daily budget and 36.3% of 55–75-year-olds keeping a regular budget.
Around half of those surveyed said they felt confident in their knowledge of financial products and services. This proportion is higher among men, regular savers and those who have a lot of money left at the end of the month.
The survey found that the majority of respondents, almost 30%, are saving for housing or renovation, and nearly one in five are saving for holidays and travel. 17.5% of respondents intend to use their savings to help their children start their lives, while 11.3% want to buy a car. More than a fifth of respondents have no savings at all.


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